I know I can't write off the lost income, i.e. if it'd rent for $2,000 a month, and I donate the use of it to the church, I can't write of the $2,000 as a charitable gift.I know if I just treat it as a 2nd home, I can write off the mortgage interest and property taxes, but how do I set it up so I can write off the entire mortgage, insurance, utilities, etc?  

Inspection cost-Lender fees-Closing cost-Mortgage payments-Property taxes-Utilities-Insurance-Commissions-Selling closing cost-Home warranty-Termite letter-MLS fees-

@Sheeva R. call your insurance agent and ask what they are seeing for the cost to build per sqft.

The seller takes the closing documents to a local notary to sign and notarize all the paperwork.

There are some standards that lenders will go by with reserves, it has to be at least 10% of the budget in most cases and enough to cover an insurance deductible in the event of an emergency. 

What percentage of  tenant income do you figure  is needed  to best  insure monthly payments ?

My offer was accepted, I was lining up contractors and during the close the bank (BOA) offered that if I used their title company (Title 360 Inc), they would pay for my Title insurance (and save me $800). 

don't forget to account for vacancy rates, insurance and maintenance that you'll be responsiible for as owner.

@Rod JosephYour post states "Mortgage Expense" is that supposed to mean that monthly debt service is $2,600 or is that Mortgage + Insurance + Cap ex + Management + Repairs?

I'm a licensed and insured general contractor who works on New Orleans houses and commercial spaces.